After raising a $3.2 million series A, a medical device startup that’s developed a tool for minimally invasive gallbladder and appendix removals is eyeing a mid-2013 launch.
NovaTract Surgical Inc.’s initial product is an organ retraction device designed to reduce the number of incisions needed to perform minimally invasive surgeries of the abdomen. Traditionally, these surgeries require three to four incisions, the company says, but the device would enable surgeons to more easily use single-incision and natural orifice transluminal endoscopic surgery (NOTES) methods, which result in less scarring, pain and risk for infection. Animal testing of the device was completed in December.
Retraction of organs has been troublesome in some laparoscopic procedures, but that’s inspired some interest and innovation in the space including similar products from Virtual Ports, Ethicon Endo-Surgery and Aesculap. NovaTract’s CEO Eleanor Tandler was not immediately available to comment on the device’s competitive advantage.
A market report from Millennium Research Group projected that the market for laparoscopic devices would show moderate growth this year, with the single-port device segment seeing a slowdown in the 70 percent-plus growth rates it’s experienced over the past few years.
Established in 2010, NovaTract uses technology licensed from Yale University. Investors participating in this round include Connecticut Innovations, Vital Financial, Golden Seeds, LaunchCapital, Enhanced Capital and Advantage Capital Connecticut.
[Photo by taoty]
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